Commodity Online
NEW DELHI: India’s inflation rate based on the wholesale price index for the week ended July 12 has fallen to 11.89 percent from 11.91 percent the previous week. Finance Ministry had recently clarified that prices of food items on a week to week basis had stabilized while retail farm prices have shown a steady to mixed trend.

Finance Minister P Chidambaram had clarified that inflation rally in recent weeks was due to external factors such as global crude oil price increase and not because of the failure of governmental measures taken so far.

“Our effort is to control inflation without hurting the rate of growth and employment," Prime Minister Manmohan Singh has assured the Parliament on July 22, prior to the vote of confidence.